Friday, May 28, 2010

No Fuel Subsidy for Malaysian?

"Is it true? No fuel subsidy for us anymore? How can you do that to us? We are used to it!"

According to Idris, "If we do not do anything, by 2019, our debt will equal our GDP. We do not want to end up as another Greece". He also said that Malaysia will save RM103bil over the next five years if it slashes the fuel subsidy bill now.

Okay, it may be true. But I have some questions for Idris. With the floating price of international fuel price, the estimation may not be accurate. The existing subsidy scheme and strategy also are not effective, as the rich also sharing the same subsidy. Cut down the fuel subsidy is not a comprehensive solution, where the Government shouldn't provide subsidy in the first place. A better win-win solution needs to be bring up. What about other expenses to cut down apart from fuel subsidy? Your pay? What about the bio-diesel plan executed in many years back? Why the Government still wants to sponsor astronaut?

Okay, sorry, I just have too many questions. Perhaps you should think of how to increase our income, country's economy, and Malaysian's financial education before talk about elimination of fuel subsidy.
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